JPMorgan Chase & Co. Purchases 176,733 Shares of Enbridge Inc. (NYSE:ENB)

JPMorgan Chase & Co. boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,142,638 shares of the pipeline company’s stock after purchasing an additional 176,733 shares during the quarter. JPMorgan Chase & Co. owned about 0.74% of Enbridge worth $655,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its stake in Enbridge by 28.4% during the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after buying an additional 246 shares during the period. Associated Banc Corp boosted its position in shares of Enbridge by 3.6% during the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 248 shares during the last quarter. Hobbs Group Advisors LLC grew its holdings in shares of Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after purchasing an additional 249 shares in the last quarter. Centaurus Financial Inc. increased its position in shares of Enbridge by 1.7% in the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after purchasing an additional 256 shares during the last quarter. Finally, First PREMIER Bank raised its stake in Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after purchasing an additional 257 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.0 %

Shares of ENB opened at $41.82 on Friday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $44.13. The firm has a market cap of $91.10 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 4.18 and a beta of 0.94. The firm has a 50 day moving average price of $42.06 and a 200-day moving average price of $39.67. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, equities research analysts forecast that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.41%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 124.07%.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of research analyst reports. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average price target of $63.00.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.